Oil Prices Drop To Milestone Lows - when will this end?

Brent crude bottomed out at 36.05 in early trading Monday,its lowest level in 11 years,before recovering slightly.In the US,the energy sector is the worst performer in the S&P 500 Index,down more than 20% year to date.A perfect storm of ample supply,a mild autumn and mild early winter outlook,and the coming back to market of Iranian,Libyan and US oil exports is driving oil prices down to bedrock levels.In parts of the US,this has allowed the price of gasoline to slip to 1.53 a gallon in Owasso,Oklahoma.*
Mid-term,however,Lukoil CEO Vagit Aleperov told CNBC,prices may rise to 40-50 dollars a barrel in 2016 as exploration cutbacks during the downturn take hold and start to reduce supply.Near term,we would need OPEC to move in order to support prices.The US lifting its ban on oil exports will simply lead to US prices equalling Brent prices.
Lukoil stock rose 11.60 rubles,up 0.50% in Monday trading.*
LKOH:PJSC Lukoil (MICEX)

Jobs Alert:Financial Analysts Needed

FBR Capital Markets is seeking financial analysts.They will provide feasibility and strategic analyses for the international energy and natural resources industry relating to exploration and production.Must be available to work at various unanticipated sites throughout the U.S.Those interested should mail a resume to
Attn:Ken Lattimore
FBR Capital Markets
1001 19th St. North
Arlington,VA 22209
re:Job Code 1474.18